CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics.
Aalo’s fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others.
Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology.
The successful completion of its Series B funding will support Aalo in building its first nuclear power plant for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how their mass-manufactured modular reactors can provide the most effective solution to powering AI data centres.
This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the US looks to advance next-generation nuclear and meet the rising energy demands of the AI era.
Sudarshan Pareek, Senior Vice President at CE-Ventures, said: "We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age."
"The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies," he stated.
CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure.
Its parent entities - Crescent Enterprises and Crescent Group - have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure.
Matt Loszak, CEO, Aalo Atomics said: "We are beyond excited to announce Aalo’s $100 million Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we’re aiming to turn on next summer. This could be the first advanced nuclear power plant to achieve criticality in the US in decades."
"The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential," he added.-TradeArabia News Service